Development Board for Rural Wales Act 1991

1991 CHAPTER 1

An Act to increase the financial limit which applies by virtue of section 12 of the Development of Rural Wales Act 1976 to sums borrowed by the Development Board for Rural Wales, sums paid by the Secretary of State to the Board and sums issued by the Treasury in pursuance of guarantees on loans to the Board.

[12th February 1991]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

1 Increase of financial limit

In section 12 of the [1976 c. 75.] Development of Rural Wales Act 1976 (financial limit for the Development Board for Rural Wales), for subsection (2) there shall be substituted—

“(2) The said limit is £175 million.”;

and section 2(3) of the [1981 c. 6.] Industry Act 1981 (which increased the previous limit to £100 million) is hereby repealed.

2 Short title

This Act may be cited as the Development Board for Rural Wales Act 1991.